Toyota Teases Three-Row Electric SUV for US Market, Signals Major EV Investment

$1.3 Billion Allocation to Kentucky Facility Underscores Toyota's Commitment to Electrification

NEWS  Electric Vehicles  February 8, 2024  Reading time: 2 Minute(s)

Max (RS editor)

---

In a recent announcement, Toyota has set the automotive world abuzz by teasing a new three-row battery electric SUV tailored for the US market. The revelation accompanies a substantial $1.3 billion investment earmarked for its Kentucky facility, reinforcing the company's strategic pivot towards electric vehicle (EV) production. This landmark decision underscores Toyota's proactive stance in embracing the evolving landscape of sustainable transportation.

The unveiling of this forthcoming eSUV marks a significant milestone for Toyota, positioning the automaker at the forefront of electrification efforts. Despite being the first official confirmation, speculations had previously circulated, fueled by trademark filings at the European Union Intellectual Property Office and industry murmurs. These speculations hinted at the emergence of seven-seat SUVs across Toyota, Lexus, and Subaru brands, foreshadowing a collaborative push towards electrified mobility.

Reports from Automotive News have suggested a potential nomenclature, with the model tentatively dubbed as the bZ5X, aligning with Toyota's established nomenclature convention exemplified by the bZ4X.

The anticipated SUV is slated to follow the footsteps of the Subaru BEV, sharing a common platform, and is anticipated to debut post-Subaru's introduction. Initial projections hinted at the commencement of production at the Kentucky factory by 2025, further solidifying Toyota's strategic roadmap in the realm of electric mobility.

 TOYOTA KENTUCKY FACTORY AERIAL VIEW 

Despite the absence of detailed specifications, industry observers anticipate fierce competition with recently launched counterparts such as the Kia EV9. Toyota's foray into the electric SUV segment is poised to inject dynamism into the market, catering to the burgeoning demand for sustainable transportation solutions.

The latest injection of $1.3 billion into the Kentucky plant amplifies Toyota's steadfast commitment to vehicle electrification and underscores its dedication to bolstering US-based operations.

This infusion of capital elevates the total investment in the Kentucky facility to approximately $10 billion, underscoring the magnitude of Toyota's long-term vision. Notably, since 2021, Toyota has channeled a staggering $17 billion towards its US operations, earmarked explicitly to fortify electrification endeavors.

 IMAGES CREDITS: TOYOTA